Microsoft reported revenue of $51.87 billion in the fourth quarter, compared with $46.15 billion a year earlier. It is expected to fall in the low to mid-single digits this quarter, driven by declines in first-party content. Softer consumer demand also hit gaming revenue, which fell 7% year-on-year due to a drop in Xbox hardware, content and services, the company said. "We've got inflation and that's obviously going to dampen consumer demand." "With Microsoft being the size that they are, it's hard for them not to reflect the overall economy," John Freeman, vice president of equity research at CFRA Research. And advertising spend slowdown hit LinkedIn and Search and news ad revenue by over $100 million.
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A slowdown in the PC market hit Windows OEM revenue by over $300 million. Three main factors reduced fourth-quarter revenue by about $1 billion.įoreign exchange negatively impacted revenue by nearly $600 million. Without the stronger dollar, the company's 12% year-on-year revenue growth would have been 4 percentage points higher, Iversen told Reuters. dollar index rose over 2% in the quarter ended June and nearly 12% this year, compared to a 1% drop a year earlier for the same period. Shares of the Redmond, Washington-based company have fallen about 25% this year. That led the company to lower its fourth-quarter profit and revenue forecasts in June. Microsoft faces pressure from a stronger greenback as it gets about half of its revenue from outside the United States. "We have more data center regions than any other provider and we will launch 10 regions over the next year." "We are seeing larger and longer-term commitments and won a record number of $100 million-plus and $1 billion-plus deals this quarter," said CEO Satya Nadella.
30, the Intelligent Cloud division was forecast to bring in $20.3 billion to $20.6 billion, with the upper end slightly above analysts' forecasts.Ī Microsoft logo is seen in Los Angeles, California U.S. In its broader Intelligent Cloud division, revenue was up 20% to $20.9 billion, ahead of the average Wall Street target of $19.1 billion, according to Refinitiv.įor the first quarter ending Sept. It was up 46% if foreign exchange factors are eliminated. Still Microsoft had its best quarter for its cloud business with record bookings for its cloud service called Azure, said Brett Iversen, Microsoft's general manager of investor relations.Īzure growth was 40%, missing the 43% analyst target compiled by Visible Alpha.
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"Microsoft is extraordinarily well positioned because of the range of businesses it has and the critical role their software and computing services play for organizations."ĭespite the positive forecast for the fiscal year starting July 1, Microsoft results for the fourth quarter amounted to a slight miss, hurt by a stronger dollar, slowing sales of PCs and lower advertiser spending. "I don't think it's unique to Microsoft," he said about the outlook.
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